Crypto Beginner Guides

How to Buy Bitcoin in the UK

The cryptocurrency; Bitcoin has received a large significant growth since its onset, some have referred to it as to be “growing at an exponential rate” (Eleonore Blanc), and with this understanding, business-minded people have referred to it as the future of currency or marketing, and so they buy it to invest in it.

The value of Bitcoins being unstable encourages the investors to explore it as a delightful ground to do business, also because the exchange costs are minimal and it is easy to invest in it. With this knowledge of bitcoin comes the urge to be a part of it, however for those in the United Kingdom who are aware of their bank’s stiff shunning of Bitcoins transaction and the tight bottleneck for new customers, it becomes hard to buy Bitcoins making you unable to invest in them. However, we have good news for you, you must know that there are over three hundred ways if not more to buy and sell bitcoins and some of these ways can help you out. If you are looking for convenient ways to buy bitcoins, here are some steps to follow:

Visit a cryptocurrency market: certain cryptocurrencies have markets to support their purchase.

CEX.io: this is one of the most reputable and efficient cryptocurrency markets in this context CEX.io. CEX.io is reputable because it is based in the U.K, on this platform, you can purchase bitcoins with either credit, debit cards or fiat exchange. Apart from bitcoins it also supports about five different other cryptocurrencies, and it is available on Android and IOS, simply download and register a free account.

Changelly: Changelly is quite similar to CEX.io, but unlike the latter, Changelly also deals with the service of swapping one cryptocurrency for another as long as it is a cryptocurrency it supports. With this service, you can swap a cryptocurrency you have for bitcoin and if you do not have any other cryptocurrency, it provides you with the option of buying straight away with your credit or debit card. It accepts all currencies and works on the exchange rate, so this requires that you are conversant with the exchange rate.

LocalBitcoin: this is more like an international bitcoin market spread across over two hundred and forty-five countries where you meet sellers online, everything is controlled by the sellers, and you have a pay option of PayPal, direct deposit at banks, or cash in which you and the seller organize how to meet one on one. It is better to buy from sellers with higher reputations on the platform, as it means they are better options.

Buying Bitcoins in the U.K or wherever you may be doesn’t have to be so difficult if you understand these steps, but beware that cryptocurrency markets can expose you to fraud. If you are making face to face payments, ensure you meet in an opened place, and also as mentioned earlier, most cryptocurrency markets only let you buy but not store, so you have to provide a self-organized or hosted Bitcoin Wallet to keep your Bitcoins like Trezor, Mycelium, etc.